Billions And Trillions Revisited

On July 29 I published an article in "THE HUFFINGTON POST" entitled, Billions and Trillions. Let us today re-visit this subject in light of all mega dollars being discussed.-If gasoline costs 2.57/gallon (we used 142 billion gallons in 2007), we spend 1 billion/DAY on this fuel. Up to 4/gallon, the daily cost is a bit more than 1.5 billion/day. The current national average price of gasoline is 3.15/gallon. Of course, crude is now back down to the 80/barrel range (or 1.90/gallon). Of course, Hawaii still pays around 4/gallon, and note the profit margin someone is making from crude oil.-The average annual U.S. Department of Energy renewable energy budget over the past decade has been less than 1 billion/YEAR (Remember, we now spend 500 billion/year on gasoline). In comparison:-a. We pass on to Pakistan 1 billion/year for counter-terrorism activities and they are not even helping much with finding Osama bin Ladin.-b. Each Space Shuttle shot costs 1 billion.-c. Each new Nimitz class nuclear-powered aircraft carrier costs 4.5 billion. We will have 10 when the H.W. Bush is commissioned early next year. We have no naval threat into the foreseeable future.-d. Is it true that farm subsidies this year will be 25 billion? And farmers are now doing really well. Does the Farm Lobby spend 80 million/year on lobbying? In these good times for them and bad times for energy, why don't we shift just half of this sum for renewable energy Rcolor:#cc0000;">The Dow Jones Industrials dropped 77 to 9310. As predicted yesterday, the Japan Nikkei jumped 14% today and European exchanges generally gained. Crude slumped down to 78.74/barrel, and the Dated Brent Spot actually dropped below 75/bbl. -Tropical Depression Nana in the mid-Atlantic is soon to become a remnant. Tropical Storm Omar should head from a position south of Haiti in the northeast direction, somewhat of a surprise, as most of these storms generally go west or northwest. It will become a hurricane before the day is over and could approach 100 MPH in three days. There doesn't appear to be any threat to the U.S. A tropical depression formed off the coast of Honduras, but is not expected to become a hurricane. All quiet in the Pacific.-